NuScale Power Says SEC has Requested More Information on Employment, Severance, and Confidentiality Agreements

By Denny Jacob

NuScale Power said the Securities and Exchange Commission requested additional information relating to its employment, severance, and confidentiality agreements after an initial voluntary request in December.

The small modular reactor nuclear technology provider said it contacted the SEC on July 30 following publication of an article by Hunterbrook Media, a media outlet affiliated with hedge fund Hunterbrook Capital, according to a securities filing on Friday.

NuScale noted that the SEC on July 31 made follow up requests for additional information related to its December request, which it said it understood to be part of a broader inquiry involving multiple companies related to the SEC's whistleblower provision.

Hunterbrook Media reported that the SEC's Division of Enforcement is conducting an "active and ongoing" investigation into NuScale, citing a response from the SEC to an open records request obtained by the outlet.

NuScale around the time of the article's publication said the SEC has not communicated to the company that it is the target of a current or prospective investigation, and it is unaware of any reason for such an investigation.

NuScale on Friday said it is in the process of responding to the additional information requests and intends to fully cooperate with the SEC.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 02, 2024 10:38 ET (14:38 GMT)

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